Stock market update: Midcaps and smallcaps underperform Sensex

In the Sensex index, only eight stocks were advancing and 23 were declining.

NEW DELHI: Midcaps and smallcaps were underperforming Sensex during Tuesday's session.

At 11 am, the BSE Midcap index was trading 0.32 per cent down at 16,174, while the BSE Smallcap was trading 0.38 per cent down at 16,600. The BSE Sensex was 0.21 per cent down at 37,506.

Shares of Indian Bank (down 5.56 per cent), Canara Bank (down 5.12 per cent), Union Bank of India (down 4.61 per cent), Reliance Communications (down 3.78 per cent) and Mangalore Refinery And Petrochemicals (down 3.18 per cent) were among the top losers in the midcap index.

Central Bank of India (up 3.12 per cent), Biocon (up 2.93 per cent), Kansai Nerolac Paints (up 2.03 per cent), United Breweries (up 1.91 per cent) and Berger Paints (India) (up 1.43 per cent) were among the top midcap gainers around the same time.

Dena Bank (up 19.75 per cent), Bajaj Hindusthan Sugar (up 9.78 per cent), Corporation Bank (up 9.19 per cent), Bharat Wire Ropes (up 8.56 per cent) and Indian Overseas Bank (up 8.53 per cent) were among the top gainers in the smallcap index.

Equity market was reflecting sombre mood in light of weak global cues after the US imposed tariffs on $200 billion worth of Chinese imports.

US President Donald Trump escalated his trade war with China on Monday, imposing 10 per cent tariffs on about $200 billion worth of Chinese imports, but sparing smart watches from Apple and Fitbit and other consumer products such as bicycle helmets and baby car seats, Reuters reported.

Among the 50 stocks in the Nifty index, 15 were trading in the green, while 35 were in the red.

In the Sensex index, only eight stocks were advancing and 23 were declining.

Vedanta, State Bank of India, Tata Motors, Bajaj Auto and ICICI Bank were the top losers in the Sensex index.

Hindustan Unilever, YES Bank, Asian Paints, Sun Pharma and ONGC were among the gainers in the Sensex pack.